NexBank, one of the country’s leading regional banks, recently completed an oversubscribed private placement of senior notes, raising a grand total of $155 million. Private placements involve the sale of securities, in this case notes, to a select group of investors, as opposed to a public offering. The notes reach maturity in 2026 and can be called as early as 2021, with a five-year $5.50% fixed interest rate and a floating rate thereafter. The issue is graded BBB by Kroll.
According to NexBank’s leadership, the successful placement demonstrates investor confidence in NexBank’s solid fundamentals as one of the nation’s top regional banks with a Tier-1 leverage ratio of 8.13% and risk-based capital ratio of 13.14%. 2016 has proved to be an outstanding year for NexBank in terms of earnings, assets, loans and deposits. Total assets are currently at $4.64 billion, which is a 71% jump from the previous year.
Total deposits also registered 72% growth, and loans are up 44% since 2015.
Founded in Dallas in 1934, NexBank Capital, Inc. is the parent company of NexBank’s three main businesses: commercial banking, mortgages, and institutional banking. The company specializes in custom financial services for institutional and financial clients throughout the United States. The bank currently holds around $4.6 billion in assets.
NexBank has shown tremendous growth in the last fifteen years. The regional powerhouse recently completed the acquisition of College Savings Bank, a New Jersey bank that specializes in 529 college savings plans. The company is committed to using its financial strength to serve its individual and institutional customers.